UK and International Tax news

Draft Guidance On Foreign Branch Taxation And CFC Changes

Friday 3rd June 2011

Further to recently published draft legislation for reforming the taxation of foreign branches [see UK Tax News item 20 January 2011], HMRC have now issued draft guidance on the optional exemption for foreign branches included in Schedule 13 of the 2011 Finance Bill.

In addition, HMRC have also published draft guidance on the CFC interim measures included in Schedule 12 of the 2011 Finance Bill.

If you would like further information on the above, please contact Keith Rushen on 0044 (0)20 7486 2378.